🌎 Trader’s $3K Investment in PEPE Yields $46M Profit in One Year

Following the recent price surge of Pepe (PEPE) to new all-time highs, a trader achieved a remarkable 15,718x profit in one year.

Data indicates that the trader bought a total of 4.9 trillion PEPE for under $3,000 on April 15, 2023. This purchase was funded by selling $2,256 worth of Timeless (LIT), $210 worth of Ethereum (ETH), and 500 USDC to acquire the memecoin.

The trader earned over $46 million on PEPE with just a $3,000 investment, translating to a 15,718x gain. This significant profit was further increased when the trader sold 255 billion PEPE for $2.3 million after the value of PEPE rose.

The trader initially spent $3,000 to buy 4.9 trillion PEPE, which is currently valued at $56 million. So far, they have sold 1.41 trillion PEPE for $7.4 million and still hold 3.5 trillion PEPE tokens, worth roughly $38.9 million at the time of reporting. These profits coincided with PEPE reaching a new all-time high of $0.00001145 earlier today.

PEPE has seen a 12.1% increase in the past 24 hours and is trading at $0.00001142 at the time of writing. The price rally has pushed PEPE’s total market cap to $4.8 billion, making it the 23rd-largest cryptocurrency asset in the market.

Additionally, PEPE’s daily trading volume saw a 76% increase over the past 24 hours, reaching $3.85 billion.

On-chain data shows a spike in whale transactions involving at least $100,000 worth of PEPE over the past 48 hours. However, there was a slight decline from 706 to 698 such transactions in the past 24 hours.